The Commission approved the € 6.7 billion SoFFin-guarantee for SdB. The guarantee aims to bolster the German Deposit Protection Fund and to pre-finance future proceeds from the estates of insolvent Lehman Brothers entities.
The Commission approved the € 6.7 billion SoFFin-guarantee for SdB. The guarantee aims to bolster the German Deposit Protection Fund and to pre-finance future proceeds from the estates of insolvent Lehman Brothers entities.
On 15 January 2009, the German authorities notified a guarantee to be granted by the German Special Fund for Financial Market Stabilization (SoFFin). The guarantee aims at providing collateral for a bond in the amount of € 6.7 billion issued by SdB and subscribed by the member banks of the Association of German Banks (BdB). The SoFFin-guarantee enables the subscribers the refinancing of the bond via the German Central Bank.
Press release
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